Morepen to sell Montelukast in Europe, North America

The company is eyeing Rs 100 crore global turnover in 2016-17 from this product

Pharma firm Morepen Laboratories is preparing to sell anti – asthmatic drug Montelukast in European and North American markets and is eyeing Rs 100 crore global turnover in 2016-17 from this product.

“We are tying up in European and North American markets for supplies to ANDA (Abbreviated New Drug Application) holders for the sale of Montelukast Sodium.

“The bulk drug has contributed Rs 48 crore to the company’s total income in the nine-month period and is likely to end fiscal 2015-16 with a total contribution of around Rs 70 crore to the top line,” Sushil Suri, Chairman and Managing Director, Morepen Laboratories said.

With its commercial launch in the international market, Montelukast is set to become the next major blockbuster bulk drug for the company after Loratadine, it said.

The company expects to notch a global turnover of Rs 100 crore from this bulk drug alone in 2016-17. Subsequently, with increased capacities, the global sales from Montelukast are likely to touch Rs 250-300 crore in the coming few years.

“As of today, Montelukast is manufactured at its facility in Parwanoo in Himachal Pradesh and commercially sold to customers in about 32 countries.

“The company aims at joining the ranks of world-class pharma companies by expanding the product’s presence in untouched international markets, resulting in substantial increase in its exports turnover in the years to come,” Suri said.

“This will soon trigger the process of inspection of the company’s manufacturing plant at Parwanoo by US Food and Drug Administrator (US FDA),” Suri said.

Morepen is engaged in the manufacturing and sale of APIs/ bulk drugs, home diagnostics, formulations and OTC products.

For the third quarter ended December 31, 2015, the company’s net profit stood at Rs 7.28 crore on a total income of Rs 112 crore, registering a growth of 146 per cent and 10 per cent respectively.

“We are working in a highly competitive global scenario, where our focus is to position Morepen as the most cost-effective bulk drug producer and supplier,” he added.

Express Pharma, first published as Express Pharma Pulse in 1994, is today India’s leading business fortnightly for the pharmaceutical industry. With the patronage of its readers, Express Pharma has grown to become the No.1 Business News Magazine for the pharmaceutical industry. The editorial contents include: news, views, analysis and interviews, under four main segments: Market (The business of pharmaceuticals), Management (Insight for managing pharma), Research (Expertise for drug development) and Pharma Life (HR issues with a pharma focus). Besides this, we bring out periodic specials like the quarterly Pharma Technology Review, Packaging Special and LABNEXT.